IESE Is Giving MBA Students €5.5m During the Coronavirus Pandemic

IESE Business School recently announced a pledge to dedicate €5.5m (approx.. US$5.8) in scholarships for recent graduates, MBA candidates and high-potential managers who are struggling to finance their studies during the Covid-19 pandemic.

The scholarships – which incorporates an increase of 15 percent usually dedicated by IESE towards student funding – will cover up to 50 percent of total tuition fees for master’s programs and 25 percent of total tuition fees for executive education courses.

The initiative is funded by contributions from over 120 partner companies, alumni and individual donors from IESE’s network.

Paula Amorim, MBA Admissions Director at IESE said: “We have been working very closely with our community and donors to increase the scholarship pool and, given the current situation, the process ended up accelerating and we were able to offer this to our students.

“As an institution our mission is to support those who hope to make a positive and lasting impact on the world. We want to ensure that the best applicants get access to our program to help them become strong global leaders.”

IESE says funds will go towards candidates who are in the process of applying to the school and whose financial situation has been negatively affected by the pandemic.

Paula said: “We recognize that this pandemic has hit young talent particularly hard, and we want to make sure there are paths open for the very best students to continue to study despite their personal financial circumstances.

“This is why nearly half of the Covid-19 scholarships will go to students pursuing a master’s in management or an MBA. In particular, the skills that are developed through an MBA are designed to help our alumni be more adaptable throughout their career. However, the current global situation has impacted a lot of people’s finances, whether due to pay cuts, lost bonuses or currency fluctuations. We want to make sure that our great pool of applicants can still gain access to the skills that an MBA can provide.”

IESE has also decided to dedicate a large portion of scholarship funding towards mid-level professionals working in SMEs from the five hardest-hit sectors: automobiles, tourism, airlines, distribution, and textiles and fashion.

The school has emphasized the importance of helping high-potential working professionals who have seen their opportunities for promotion and growth “curtailed” by the pandemic.

IESE Business School Dean Franz Heukamp said: “We don’t want anyone with a talent for leading companies to interrupt their education and development because of the impact of COVID-19.

“Now more than ever, our commitment to society prompts us to work to continue developing leaders who will contribute to resolving economic and social problems. We are especially grateful to the generosity of our partner companies and alumni, who with their support make these scholarships possible.”

Enrollment for the program opened on July 8 2020. The school will continue to accept applications on a rolling basis throughout the 2020-21 academic year, depending on the start dates of each program, for master’s degrees in management and executive education programs. Funds for MBA candidates and students will apply to the Class of 2023.

Paula said: “We will continue to evaluate our community’s needs going forward to figure out how to best support our students. We will review our scholarships for 2022 and beyond as the situation evolves.”